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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL POSITIONING
Money managers increased net long Brent positions last week by 69k according to the ICE Commitments of Traders data released on Friday.
- ICE Brent net longs increased by the most in data back to 2011 up to +140k. Long only positions rose by 33k, and short only positions fell by 35k.
- The rise comes as crude futures have recovered back to early May levels amid expectation of a Q3 deficit, following the bearish reaction to the early June OPEC meeting.
- ICE Gasoil net long fund positioning also increased by 38k and up to the most bullish since mid April at +80k.
- Nymex COT data is delayed until later today due to the US holiday last week.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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